Finding 46959 (2022-003)

Significant Deficiency
Requirement
L
Questioned Costs
-
Year
2022
Accepted
2023-02-22
Audit: 48971
Organization: Hendrix College (AR)
Auditor: Forvis LLP

AI Summary

  • Core Issue: The institution inaccurately reported the number of students receiving Emergency Financial Aid Grants on its website.
  • Impacted Requirements: Compliance with 2 CFR Part 200.328 and 200.329 regarding public disclosures and quarterly reporting of HEERF fund expenditures.
  • Recommended Follow-Up: Implement stronger internal controls to ensure accurate reporting and confirm the accuracy of future submissions.

Finding Text

Criteria: Reporting ? Per 2 CFR Part 200.328 and 2CFR Part 200.329, institutions must publicly display on their website the total number of students who have received an Emergency Financial Aid Grant. Institutions are required to submit quarterly budget and expenditure reports detailing institutional expenditures of HEERF funds. Condition: The institution?s count of number of students who have received an Emergency Financial Aid Grant disclosed on the website is not accurate. A quarterly report for institutional portion expenditures was not submitted accurately. Questioned Costs: None. Context: Students eligible to receive an Emergency Financial Aid Grant were reported incorrectly. We received the listing of students used for the reporting disclosures and performed recounts. For the September 30, 2021 disbursement, the College reported 1,291 students received emergency funding instead of the actual number, 1,517, a difference of 226 students. Additionally, for the December 31, 2021 disbursement, the College reported 1,291 students received emergency funding instead of the actual number, 1,514, a difference of 223 students. Finally, the 4th quarter institutional share report inaccurately stated all disbursements were for lost revenues instead of $122,346 being allocated for COVID related expenses. Effect: The disclosures on the website are not accurate. Cause: Internal controls were not adequately designed and implemented to ensure compliance with the program?s reporting requirements. Identification as a Repeat Finding, if Applicable: N/A Recommendation: We recommend implementing controls to ensure the College complies with the programs reporting compliance requirements. Views of Responsible Officials and Planned Corrective Actions: Administration concurs with the findings. The College has corrected the website disclosure of number of students receiving Aid Grants under the program. The College will review and confirm accuracy of any future report submissions. Anticipated Completion Date: May 31, 2023

Corrective Action Plan

Views of Responsible Officials and Planned Corrective Action - Administration concurs with the findings. The College has corrected the website disclosure of number of students receiving Aid Grants under the program. The College will review and confirm accuracy of any future report submissions. Anticipated Completion Date: May 31, 2023

Categories

Reporting Internal Control / Segregation of Duties

Other Findings in this Audit

  • 46956 2022-002
    Significant Deficiency
  • 46957 2022-001
    Significant Deficiency
  • 46958 2022-001
    Significant Deficiency
  • 46960 2022-003
    Significant Deficiency
  • 623398 2022-002
    Significant Deficiency
  • 623399 2022-001
    Significant Deficiency
  • 623400 2022-001
    Significant Deficiency
  • 623401 2022-003
    Significant Deficiency
  • 623402 2022-003
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $4.80M
84.425 Higher Education Emergency Relief Fund (heerf) Student Aid Portion $1.55M
84.063 Federal Pell Grant Program $1.31M
84.038 Federal Perkins Loan Program $696,041
93.859 Biomedical Research and Research Training $241,880
84.033 Federal Work-Study Program $208,596
84.007 Federal Supplemental Educational Opportunity Grants $167,839
47.076 Stem Education $151,553
47.074 Biological Sciences $144,553
84.425 Higher Education Emergency Relief Fund (heerf) Institutional Portion $100,000
47.050 Geosciences $72,324
45.160 Promotion of the Humanities Fellowships and Stipends $10,000
15.615 Cooperative Endangered Species Conservation Fund $4,928
15.634 State Wildlife Grants $3,703